September 8, 2008

Magellan Expands Funding Base for Growing Business

The Magellan Group is pleased to announce that ACG Investment Capital Partners, a joint venture between the Aviation Capital Group and FB Transportation Capital LLC, has made an investment in the Magellan Group. The additional capital combined with the relationship with two premier firms in the aviation industry will enable Magellan to continue the strong growth achieved since its inception in 2002.

With operational offices in Charlotte, North Carolina, and Shannon, Ireland, the Magellan Group is a leading aftermarket supplier of aircraft products and services, and a specialist engine leasing and trading company.

Aviation Capital Group is owner/lessor and portfolio manager of a diversified fleet of commercial jet aircraft leased to the world's leading airlines. Its portfolio includes 234 aircraft leased to 93 airlines in 40 countries with an additional 155 aircraft on order with Boeing and Airbus. ACG's Capital Markets Group also provides asset management and remarketing services to aircraft investors and institutional clients. ACG was founded in 1989 and is a wholly-owned subsidiary of Pacific LifeCorp, the parent company of Pacific Life Insurance Company.

FB Transportation Capital, a subsidiary of Fortis Bank, is a principal finance provider active in the aviation and intermodal industries.